Strategic Wealth Partners Ltd. Increases Stake in Genuine Parts (NYSE:GPC)

Strategic Wealth Partners Ltd. grew its position in shares of Genuine Parts (NYSE:GPC) by 12.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,343 shares of the specialty retailer’s stock after buying an additional 468 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Genuine Parts were worth $450,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Comerica Securities Inc. acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $256,000. Dimensional Fund Advisors LP raised its holdings in Genuine Parts by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 904,189 shares of the specialty retailer’s stock valued at $86,820,000 after buying an additional 22,731 shares during the period. Geode Capital Management LLC raised its holdings in Genuine Parts by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock valued at $188,434,000 after buying an additional 163,768 shares during the period. Virtu Financial LLC purchased a new position in Genuine Parts in the first quarter valued at approximately $201,000. Finally, Pennsylvania Trust Co purchased a new position in Genuine Parts in the first quarter valued at approximately $898,000. Institutional investors own 77.93% of the company’s stock.

Shares of GPC traded down $2.08 during mid-day trading on Friday, reaching $87.73. 634,171 shares of the stock traded hands, compared to its average volume of 776,554. The firm has a market cap of $13.12 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 3.15 and a beta of 0.92. The stock has a fifty day simple moving average of $96.20 and a 200 day simple moving average of $102.83. Genuine Parts has a 12-month low of $87.34 and a 12-month high of $115.20. The company has a quick ratio of 0.68, a current ratio of 1.26 and a debt-to-equity ratio of 0.98.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). The firm had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $5 billion. Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 EPS. On average, equities research analysts expect that Genuine Parts will post 5.7 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be given a dividend of $0.7625 per share. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Thursday, September 5th. Genuine Parts’s payout ratio is currently 53.70%.

Several research firms recently commented on GPC. Royal Bank of Canada set a $101.00 price target on shares of Genuine Parts and gave the company a “hold” rating in a report on Friday, July 19th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating and set a $103.00 price target on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Stephens began coverage on shares of Genuine Parts in a report on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price target on the stock. Finally, Jefferies Financial Group set a $102.00 price target on shares of Genuine Parts and gave the company a “hold” rating in a report on Friday, July 19th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Genuine Parts has a consensus rating of “Hold” and an average price target of $105.75.

About Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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